Island, April 14, 2006 —
The Island Regulatory and Appeals Commission announced today that
wholesalers have been authorized to increase prices in their dealer and
consumer schedules by 4.5 cents per litre (cpl) on gasoline and diesel
and by 3.0 cpl on furnace fuel and stove oil, effective 12:01 a.m.
Saturday, April 15, 2006.
Accordingly, pump prices
for regular unleaded gasoline at self-serve outlets will now range from
112.4 cents per litre to 114.0 cents per litre.
There will be no changes
to propane pricing at this time.
In announcing the price
increases, the Commission indicated that continued dramatic increases in
world oil prices have necessitated price adjustments. Commission Chair,
Moe Rodgerson, noted that a number of issues affecting world oil prices
are still at play, including geopolitical tensions in Nigeria and Iran,
the introduction of new more environmentally sensitive industry
production regulations and the onset of the spring and summer driving
seasons, all of which have combined thus far to increase crude prices by
over $2.00 per barrel since April 1. With the markets remaining as
volatile they are, the Commission will continue to monitor the situation
on a daily basis.
The Commission’s next scheduled price adjustment will be on May 1st .
Click here for published prices effective
April 15, 2006